Due to the COVID-19 pandemic, the demand for alcohol-based hand sanitizers has skyrocketed. Expert financial analysts project that the global hand sanitizer market will go over $1.4 billion by the end of 2020. They project this figure to keep growing all through the new decade, and they expect it to have crossed $2.8 billion by 2030.
Currently, consumers prefer gel-based sanitizers to foam or spray-based sanitizers. A variety of industries also use Gel-based sanitizers. Therefore, sanitizer manufacturers are putting most of their resources to gel sanitizers to feed the increase of consumer demand. Manufacturers are also taking advantage of technology, digital networking, and e-commerce platforms following the WHO social distancing measure advisory in attempts to stop the disease from spreading.
Different competitors in the sanitizer manufacturing industry are employing innovative measures to try getting an edge over the others in the market share. Some companies have introduced sweet fragrances to their sanitizers to attract more consumers while others are remodeling their packages in attempts to do the same. However, manufacturing companies need not worry because, due to the upsurge of the number of freshly infected people every day, the world still lies in uncertainty. The demand for hand sanitizers keeps increasing, which means that manufacturers need to increase their production.
The increase in demand for hand sanitizers during this period shows that there will be a prolific growth in demand for clinically accredited hand hygiene products over the next ten years. Ambitious manufacturing companies need to position themselves to benefit from all the prospective businesses in the coming few days.
Some of the major players in the hand sanitizer manufacturing industry are Unilever, Best Sanitizers Inc., Kimberly-Clerk, Reckitt Benckiser, Medline Industries, Henkel Corporation, 3M Company, and GOO Industries. Most of these companies are currently partnering and setting strategies on how to capitalize on the opportunity presented by the Coronavirus pandemic.
In summary, the hand sanitizer global market will grow to over $1.4 billion by the end of the year. East Asia is likely to be the greatest beneficiary of the new business opportunity. Experts project these figures to grow past $2.8 billion from 2020 to 2030. Market leaders in the manufacturing industries aim to increase production to meet the high increase in demand.